Care Advantage Inc, a portfolio company of BelHealth Investment Partners LLC, has acquired Direct Home Health Care. Financial terms weren’t announced. Direct Home Health provides in-home personal care services primarily to Medicaid recipients from two locations in Virginia, Portsmouth and Newport News.
Richmond, VA – September 10, 2018 – Care Advantage, Inc. (“Care Advantage”), a leading provider of home healthcare services in the Mid-Atlantic and a BelHealth Investment Partners, LLC (“BelHealth”) portfolio company, announced the acquisition of Direct Home Health Care (“Direct” or the “Company”).
Direct Home Health Care, based in Southeastern Virginia, provides in-home personal care services primarily to Medicaid recipients from two locations in Virginia, Portsmouth and Newport News. A substantial part of Direct’s patient census consists of Medicaid’s consumer directed home care program in which patients are cared for by family members, and the care plan is facilitated by the agency. This is a new business line and growth opportunity for Care Advantage as more patients shift toward consumer directed care.
Tim Hanold, CEO of Care Advantage, said, “Direct is a wonderful organization that complements our existing footprint in Eastern Virginia. The culture at Care Advantage and Direct are similar, and we are very excited to welcome the caregivers, patients, and employees to the Care Advantage family. The market dynamics and trends in Eastern Virginia are strong and it remains a geography of heavy focus for us.”
Scott Lee, Managing Director of BelHealth and Care Advantage Board Member, added, “We are excited to complete the acquisition of Direct and will quickly integrate the Company into our operations. Tim and his growing executive team are gelling when it comes to completing and integrating add-on acquisitions in a very fragmented market. This is an important ingredient for our future success.”
About Care Advantage
Care Advantage is Virginia’s largest privately held home healthcare provider. The Company specializes in “one-on-one” quality nursing care in the home and is a one-stop shop for home healthcare services. Corporate headquarters are in Richmond, with an additional 20 branch locations throughout the state. The Company provides “private duty” nursing and personal care services such as bathing, dressing, and companionship and also provides “skilled” services primarily by licensed nurses.
About BelHealth Investment Partners
BelHealth Investment Partners, based in New York, is a healthcare private equity firm focused on lower middle market companies. BelHealth has a unique combination of investing, executive management and entrepreneurial experience. BelHealth acquires majority positions in entrepreneur-owned companies that it believes would benefit from its extensive operating and private equity investment expertise. The firm invests across three core healthcare segments: Services, Products and Distribution. BelHealth is investing from its current $350 million fund.